Key investment points
One week market review
This week, the Shanghai Composite Index fell 0.11% and the Shanghai and Shenzhen 300 index fell 1.68%. The CSI mainland new energy theme index fell 2.47%. The performance of lithium battery sector was weaker than the market this week, and the index fell 5.46%; The performance of the new energy vehicle sector was weaker than the market, with the index falling 5.50%; The performance of charging pile sector was stronger than the market, and the index fell 1.48%; The performance of wind power sector was stronger than that of the market, and the index fell 0.26%; The performance of photovoltaic sector was stronger than that of the market, and the index rose 0.49%; The performance of the energy storage sector was weaker than the market, and the index fell 4.02%.
The implementation plan of scientific and technological cooperation between the East and the West during the 14th five year plan promotes the growth of demand for new energy and wind energy storage
On March 4, the Ministry of science and technology and other nine departments issued the implementation plan for scientific and technological cooperation between the East and the West during the 14th five year plan, which proposed to support Xinjiang in implementing the scientific and technological action of clean energy utilization and carbon peak and carbon neutralization, carry out the research and development and demonstration application of advanced energy technologies such as clean coal utilization, intelligent wind turbine, energy storage and new energy microgrid, and carry out strategic mineral Green low-carbon technology development and achievement transformation in chemical industry and other industries to support and lead the green development of Xinjiang; At the same time, it is pointed out to build a clean energy innovation highland in Central Yunnan. Support Kunming, Yuxi, Chuxiong and other national high-tech zones in Yunnan Province to jointly build with Beijing Centergate Technologies (Holding) Co.Ltd(000931) , Zhangjiang and Shenzhen and other national high-tech zones, deepen research cooperation in clean energy fields such as “water wind light” multi energy complementarity, energy storage and smart energy, tackle key technical problems in rare and precious metals, green aluminum and silicon and other industries, and build a cluster area for innovation and development of characteristic industries, Support Yunnan to build a “photovoltaic capital of the world”. The implementation plan of science and technology cooperation between the East and the West in the 14th five year plan proposes to support the development of new energy in Xinjiang and Yunnan, which is expected to boost the prosperity of photovoltaic, wind power and energy storage industries. Driven by the policy, the downstream demand for photovoltaic is strong. In January 2022, the new installed capacity of photovoltaic in China reached 7gw, a year-on-year increase of 200%, and the orders in all links of the industrial chain are full. We believe that with the expansion of upstream silicon materials and the release of production capacity, the price of silicon in the photovoltaic industry chain is expected to decline, which will drive the installed cost of downstream power stations to decline, and the installed capacity is expected to show explosive growth.
Investment suggestion: it is suggested to pay attention to the subject matter related to photovoltaic modules, inverters, distributed photovoltaic and power station operation.
Risk tip: the price of photovoltaic silicon material fell less than expected, and the industrial policy was adjusted.
